05:55:03 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



FP/wire say Lululemon being prudent with the planning

2023-12-11 09:23 ET - In the News

The Financial Post reports in its Saturday, Dec. 9, edition that Lululemon athletica's fourth quarter revenue guidance trailed Wall Street estimates, a rare miss for the retailer. A Bloomberg dispatch to the Post reports that Lululemon said Thursday that revenue in the holiday quarter is expected to be up 13 per cent to 14 per cent over last year, down from 19-per-cent growth seen in the three-month period that just ended. Chief financial officer Meghan Frank said the company is "being prudent with the planning" for the remainder of the quarter, which ends in late January. The retailer forecast fourth quarter revenue in the range of $3.14-billion (U.S.) to $3.17-billion (U.S.), while analysts surveyed by Bloomberg were looking for $3.18-billion (U.S.), on average. In the third quarter, adjusted earnings per share came in better than expected while operating margin and gross margin missed Wall Street estimates.

© 2024 Canjex Publishing Ltd. All rights reserved.